Quiz 648: Banking Awareness for SBI PO 2015

Which among the following was the first bank purely managed by Indians? [A]Oudh Commercial Bank [B]Punjab National Bank [C]Bank of India [D]Allahabad

Punjab National Bank The first Bank with Limited Liability to be managed by Indian Board was Oudh Commercial Bank. It was established in 1881 at Faizabad. This bank failed in 1958. The first bank purely managed by Indians was Punjab National Bank, established in Lahore in 1895. Reference

In recent times, the term Gold ETF was making news. Which among the following closest instrument to Gold ETF? [A]Debenture [B]G-Sec security [C]Mutual Fund [D]Commercial Paper

Mutual Fund Gold ETFs (Paper Gold) are mutual fund schemes that invest in standard gold bullion (of 99.5% purity). The value of an ETF is based on price of gold. These are alternative to owning physical gold.

Each country in the BRICS development bank has equal equity. What is the amount of this equity? [A]10 Billion USD [B]20 Billion USD [C]30 Billion USD [D]40 Billion USD

10 Billion USD Bricks Development Bank was launched on Jul 15, 2014 by BRICS countries, at Fortaleza (Brazil) Summit. Each member has an equal equity of USD 10 Billion in this bank. Shanghai will be its headquarters.

Who among the following was the chairman of the Giro Advisory Group (GAG) ? [A]Bimal Jalan [B]Umesh Bellur [C]Deepak Mohanty [D]Prakash Tandon

Umesh Bellur The Giro Advisory Group (GAG) was headed by Prof. Umesh Bellur, lIT Bombay. On the basis of recommendations of this group, RBI had issued guidelines for implementation of the Bharat Bill Payment System (BBPS) in November 2014. Reference

Which of the following bank has recently launched a new home loan product “Women Power” with a differential rate of interest exclusively for women customers? [A]ICICI Bank [B]HDFC Bank [C]IDBI Bank [D]SBI

HDFC Bank Housing Development Finance Corporation Ltd (HDFC Ltd), has launched a Home Loan product “Women Power” with a differential rate of interest exclusively for women customers. On this product, the applicable rate of interest is 9.85% pa, which is 5 bps below its normal applicable home loan rate under the variable rate product. Women should be the Sole or Joint owner of the property and a First applicant / co-applicant to the loan.